Robinhood’s blockchain experiment is no longer an experiment. The company’s Ethereum Layer 2 network, built on the Arbitrum stack, has crossed $400 million in total value locked, a milestone that puts it ahead of several chains that have been around for years.
For a network that launched on July 1, the speed of capital accumulation is striking. Robinhood Chain sat at roughly $39 million just three days after going live, cracked $100 million within its first week, and blew past $379 million by mid-July.
Where the money is flowing
Morpho, a lending market, accounts for roughly $133 million of the total, making it the single largest contributor to Robinhood Chain’s TVL. Uniswap follows with approximately $55 million. Those two alone represent a significant chunk of the ecosystem’s DeFi activity, which DefiLlama pegs at around $207 million.
Cumulative decentralized exchange volumes on the chain surpassed $650 million within a 24-hour window shortly after launch.
